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March 2021 Charlotte Region Market Update
Dated: April 13 2021
Charlotte Region Real Estate Market Update
Great Day Queen City! ??
The Charlotte real estate market has been “real” insane! ???
“Why?” You ask ?
Well…. because home buying season is in the air..... but there are not enough houses for sale to meet the demand of home buyers! ??♀️
If no additional houses were listed for sale in March 2021, all of the inventory would be sold in approximately 18 days, compared to last March 2020 which would have taken a little over 2 months for inventory to be cleared out. ?
A statement from the Canopy Realtor® Association:
“Normal spring increases in sales activity, coupled with relaxing COVID-19 policies,
created a very busy March real estate market as buyer demand continued largely
unabated in the face of rising home prices and mortgage rates. Existing home seller and
new construction activity continue to remain below levels necessary to bring the market
back into balance, pointing to a busy and competitive buyer market in the coming
New Listings were down in the Charlotte region by 8.1 percent to 5,523. Pending Sales
increased 30.3 percent to 5,675. Inventory shrank 70.2 percent to 2,733.
Prices moved higher as Median Sales Price was up 12.1 percent to $305,000. Months
Supply of Homes for Sale was down 71.4 percent to 0.6, indicating that demand
increased relative to supply.
While many homebuilders are working to increase their activity, the cost of lumber and
other materials and a backlogged supply chain continue to limit new home construction
and have increased costs substantially. New methods of construction, including 3d
printed homes, could speed construction and reduce costs in the future, but realistically
are several years away from making a measurable impact in the market.”
Hiring a Realtor who knows the ins and outs of the market and has a strategic plan for getting winning offers accepted makes the difference between achieving a seamless and successful home selling or home buying experience.
Call or text me today at (704)937-1453 to discover your unique journey of achieving your real estate goals and dreams!
All data and facts provided by Canopy Realtor Association.
Hi there, I am Your Trusted & Dedicated Realtor, Alisha Askew! Are you ready to discover the next steps towards achieving your real estate dreams? As a passion driven and client-focused Real E....
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